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“tidal wave” of big batteries and record amount of new solar and wind are joining forces to drive down electricity prices and deliver Australia’s target of 82 per cent renewables by 2030, but only if current momentum can be maintained. A major new report says calendar 2024 is set to deliver a record amount of new solar and wind – nearly half of it from rooftop PV – and a major uptick in battery storage. But it warns of the “clear and present threat” from energy policy chaos, just as Australia hits its stride in the transition to renewables. The Climate Energy Finance report, published on Tuesday, finds Australia on track to meet its 82 per cent by 2030 renewable energy target, thanks to a strong uptick in renewable energy project proposal, construction and commissioning over the course of 2024. Read more

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Climate Energy Finance (CEF) director Tim Buckley slammed the proposal as “disturbing”. “This will make the energy driven cost of living crisis dramatically worse in the short, medium & long term,” he said. “This policy has a clear political agenda. The LNP conflates renewable energy with the Australian energy hyperinflation evident since Putin’s invasion of Ukraine, with the resulting surge in oil, gas and coal prices due to ongoing sanctions against Russia,” Buckley said. “Australia’s energy prices have surged since 2022 because of fossil fuel hyperinflation. Renewables are the solution.” Read more

In the light of Trump’s election in the US, Climate Energy Finance director Tim Buckley framed China’s dominance in clean technology manufacturing as an opportunity rather than a threat. “China wants to partner with us,” Buckley said, noting that Australia’s status as China’s leading trading partner provides a strong foundation for technology transfer and manufacturing collaboration. Read more

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What does a green superpower look like? A certain command and control economy to Australia’s north is the model despite its many current flaws. “China is moving a million times faster than we are,” CEO of Climate Energy Finance, Tim Buckley, said. “China installs 24 gigawatts of wind and solar every month. That’s what they did last month. That’s what they’ve done on average in the last 20 months. We do about six gigs a year. “So they do in one week what we take a year to do. “The idea that we’re the superpower is a delusion. “We’re in a race and we’re not winning it. “But we do have the potential to be a renewable energy superpower and mining is going to be how we get that.” Read more

The highlights include a keynote address from Tim Buckley, Director, Climate Energy Finance on “The Energy Transformation – Looking Towards 2025”. Tim Buckley said connecting and developing the climate tech investors in Australia is an urgent task. “We’re building the solutions to these massive energy and Decarbonisation problems and we need to make sure we can finance them at much greater speed and scale in the domestic context,” he said. Read more

Tim Buckley tells Xinhua that China is helping developing countries decarbonize through renewable energy leadership, international partnerships, and massive investments in emerging markets. Read more

Through initiatives like the Belt and Road Initiative (BRI), China is strategically investing in renewable energy projects across Asia, Africa, and Latin America. These partnerships include funding solar farms, wind power plants, and hydropower projects, enabling developing nations to reduce reliance on fossil fuels. Tim Buckley, chief of Climate Energy Finance, highlights how China’s financial and technological contributions are crucial for advancing global decarbonization goals. Read more

Green energy success is helping Beijing push back against western political pressure. Xuyang Dong, a China energy policy analyst at Climate Energy Finance, an Australian think-tank, argues that China’s renewable electricity generation, backed by huge investment in the power grid and energy storage, means coal will increasingly only be used as an emergency back-up before, “inevitably”, being phased out. Read more

The election of Donald Trump – a felon and climate crisis denier – as president of the United States comes as a stroke of bitter irony after recent floods exacerbated by global warming smashed parts of the southeast US – Hurricane Milton alone is likely to cost up to US$50 billion – and given the escalating intensity of wildfires and other natural disasters taking a huge toll on America and other countries. Trump’s “drill baby, drill” energy policies are a disaster for the US, intergenerational equity and global efforts to mitigate the climate crisis. Read more

The re-election of Donald Trump as US president – a charlatan, fool, felon and climate denier captured and paid for by the fossil fuel cartel – is a bitter irony after the devastating climate-change driven floods that smashed parts of the southeast US recently. Trump’s ‘drill baby drill’ climate and energy ‘policies’ are a disaster for the nation, for intergenerational equity and equality, and will impact global efforts to mitigate climate change. Read more